Rapid and Extensive Adoption of IoT for Business Growth
                     Rapid and Extensive Adoption of IoT for Business 
Growth
Satya K Vivek
Writes for Gadgeon IoT software development company 
and IoT engineering services.
The advancement of technologies that fueled proliferation of devices has 
driven the growth of IoT technologies. Currently, IoT is poised to cross 
over into the mainstream. According to various market projections, the 
number of IoT-connected devices will increase to 43 billion by 2023.
As IoT is expected to become a part of the mainstream, it will open the 
doors for easier implementation of IoT technologies. As a result, most 
companies, small and medium-sized businesses will be able to generate 
benefits from IoT applications.
Bigger companies already investing their resources to take advantage of 
IoT technologies, but the widening of the IoT landscape would increase 
the number of beneficiaries exponentially. Even though the smaller 
companies might not have the financial cushion to execute innovative 
implementations, they should be able to access easy-to-use, low-cost 
solutions, which are plenty on offer now.
Steady but fast growth:
Since the beginning of the second decade of the new millennium, IoT 
technologies have been growing steadily powered by the primary 
technological advancements.
With reliable mobile connectivity, more computing power, and the 
introduction of new sensors, there will be extensive adoption of IoT 
technologies in the coming years. Sensor technology, which is at the heart 
of IoT devices will become more advanced, cheaper, and continue to 
become more widely available. The availability and cost reduction will 
enhance the deployment of sensors in various fields, including large-scale 
detection and monitoring.
Almost 100% increase in computing power over the past 15 years coupled 
with advancements in artificial intelligence and real-time analytics 
accelerated the shift of computing solutions from local devices toward 
edge and cloud computing solutions. The IoT market will keep growing 
because of the increasing in the need of connecting IT and IoT. 
Scope for wider adoption:
IoT adoption can take many forms and could wary the implementation 
approach at different organization. However, the typical method of 
adoption will be a three-stage process as described below.
Phase-I: Maturity assessment - As a rule of thumb, businesses on the path 
of digital transformation will have an edge over others in IoT adoption. As 
these companies have the infrastructure for faster and more efficient data 
communication with flexibility of connecting several systems, they would 
drive the IoT adoption wave.
Phase-2:  Prioritizing use cases – Despite seeming inevitable, IoT adoption 
is highly challenging. To ensure successful adoption, businesses must 
prioritize their approach & action plan for adoption. They must start by 
transforming the most critical, high-value operations first while staggering 
the overhauling of the rest of the assets and network. This approach 
should help to maximize the benefits from their IoT adoption.
Phase-3:  Developing IoT business models – Business owners like to invest 
in systems and technologies that boost the bottom line. However, 
depending on the business, the value proposition of IoT technologies 
might not be straightforward. How businesses use IoT will vary according 
to the business needs and goals.
Embedding IoT technologies in products and services could be one way of 
using the technology. It can also help to enhance base offerings, like 
increasing customer loyalty and boosting of ROI. IoT being now a part of 
our daily lives bears testimony to its extensive adoption by businesses.
About Gadgeon
Gadgeon is known for its expertise in Industrial IoT and engineering 
excellence. We connect devices, operations, and processes to create 
business value, and revolutionize enterprises with the power of data. As 
an end-to-end technology services company, we successfully enabled the 
digital journey of customers with critical digital services ranging from 
embedded systems, cloud app development, mobile app development, 
data & analytics, application modernization, emerging technology based 
solutions, and testing & test automation across the industries such as 
connected factory, telecom & datacom, digital healthcare, CSPs, and 
home & building automation.
Thank you for time in reading this article!